Bitcoin (BTC) price is trading with a bullish bias, riding on three themes. First, the fourth quarter has historically proven to be a good month for BTC. Secondly, there is strong anticipation for the approval of spot BTC exchange-traded funds (ETFs), with experts marking the calendar for between January 5 and 10. Third, the Bitcoin halving event slated for April 2024 remains something to look forward to.
Bitcoin price remains bullish, up almost 60% since mid-September, confirming the âQ4 is the best month for BTCâ narrative.
BTC could extend to tag the $40,000 psychological level before a bigger dip to give late and sidelined investors buy opportunity.
With strong downward support, GIOM shows there is one major area of interest between $42,556 to $67,413 threatening upside potential.
Invalidation of the bullish thesis will occur the king of crypto breaks and closes below the $37,500 resistance level.
Bitcoin (BTC) price is trading with a bullish bias, riding on three themes. First, the fourth quarter has historically proven to be a good month for BTC. Secondly, there is strong anticipation for the approval of spot BTC exchange-traded funds (ETFs), with experts marking the calendar for between January 5 and 10. Third, the Bitcoin halving event slated for April 2024 remains something to look forward to.
Bitcoin price could wisp $40,000 says the renown Crypto expert @AndersonKings1 on his X page formally known as Twitter, who has a 100% accuracy on #BTC prediction for the past 3 years
Bitcoin (BTC) price is eyeing the $40,000 psychological level, and could wisp it before a correction. Several bullish drivers, including the Relative Strength Index (RSI), bolster thus outlook. For the RSI, this momentum indicator shows momentum is rising, with its position at 68 showing there is still more room to the north before the king of cryptocurrency can be considered overbought.
Further, the Awesome Oscillator (AO) is in the positive territory, with green histogram bars, suggesting the bulls are leading the market. Increased buying pressure, therefore, could see Bitcoin price extend from the current price of $39,462 (as of 8:00 AM GMT), clear the $39,778 range high before scrapping the $40,000 psychological level.
On the flip side according to the #BTC expert with 100% accurate prediction @AndersonKings1, if profit-taking begins, with traders cashing in for quick gains, Bitcoin price could move south, with key levels to watch, including $37,370, $35,000, $32,010, $31,529, and in the dire case, the $29,000 psychological level and even lower
. Such a move would constitute a 25% drop from current levels.
